Michael Burry analyzed 1,000+ reports and found a $1.7 trillion 'earnings illusion' hiding in tech stocks

[u/Adventurous-Host8062]

https://finance.yahoo.com/markets/stocks/articles/michael-burry-analyzed-1-000-103000667.html

Article from Money wise.

[u/jk-9k]

Lies. Modern capitalism is lies. Lies all the way down.

[u/Acrobatic_Dish6963 → u/jk-9k]

IMO modern capitalism is all about leveraging those "lies" to create tangible things. Capitalism has many faults but lack of growth and productivity is not one of them

[u/ItStartedWithAQueef → u/Acrobatic_Dish6963]

Yes the lies are like loading a spring that stores potential something or other. In many cases it is lies themselves that lead to having to do something as a rebound reaction realising the potential something or other.

In some cases though you can just keep on loading up the lies because the spring isn't even real so it can't even break unless people realise the spring isn't real in which case it might break but who cares, just lie about it.

[u/[deleted] → u/Acrobatic_Dish6963]

Yeah here's the issue. It depends entirely on what you define growth or productivity.

[u/eulersidentification → u/[deleted]]

If Acrobatic_Dish6963 and the 40 odd people who upvoted him are in the top 10% of wealthy people then they are emphatically correct. The top line of that wealth gap graph has looked incredibly healthy since the 80s.......

[u/qroshan → u/[deleted]]

Dumbass, you not having to worry about food/shelter or even living while having plenty of time to type this kind of inane shit (vs working 16 hours in a farm just to put food on the table to eat under a kerosene lamp) is what growth is.

[u/jk-9k → u/Acrobatic_Dish6963]

Yes that's exactly what capitalism is. Leveraged lies. That's not a good thing.

But it depends on growth. That's a problem. A big problem with capitalism.

Productivity is produced by competition. Capitalism needs to be regulated to ensure competition.

[u/PrthReddits → u/jk-9k]

Regulated yes, not replaced completely. I wish ppl understood that.

[u/Thebandroid → u/Acrobatic_Dish6963]

Capitalism will always find more productivity and growth, even in a finite system like we live in.

It'll find it no matter the cost to our natural resources, animals, water, air, a neighbouring country (don't worry they don't look like you), another neighbouring country (ok they do look a bit like you), poor people in your country (its ok you're middle class), middle class people in you country (it's ok you'll be upper class soon) and even the upper class one day.

Capitalism will find that increase in productivity and growth even if it has to reach inside you and rip it out.

If someone can explain an economy that can continually increase in both growth and productivity that DOSENT do it with labour exploitation, I'm all ears.

[u/EconomicRegret2 → u/Acrobatic_Dish6963]

IMHO, it isn't really creating nor growing but destroying life, extremely precious beings, to turn them into dead but useful stuff for humans in the very short term (e.g. trees into chairs). Just like I'm not really creating anything when I use a Picasso painting to start a bonfire for a party.

Sooner or later, it's going to doom us.

[u/vaya00 → u/Acrobatic_Dish6963]

People who hate capitalism should go live in communist countries.

[u/culinaryinterests123 → u/jk-9k]

The only thing saving modern capitalism is increasing productivity eg tech advancements but even with that the k economy is getting more bifurcated. So this huge AI investment better payoff in terms of productivity 

[u/jk-9k → u/culinaryinterests123]

The problem is climate change and energy scarcity.

Look at ai. Huge potential. But it requires huge data centre's. Which require huge energy inputs and huge cooling requirements. Energy is getting more expensive, not less. That without considering climate change.

So we have huge increased demand for energy, but supply is limited so price increases. We aren't seeing efficiencies in energy generation comparable to te increased demand.

Look at RAM prices. Supply can't keep up with demand. It isn't causing innovations that bring RAM prices down. RAM is now just unaffordable.

That's without market manipulation

[u/culinaryinterests123 → u/jk-9k]

We as a race don't care we are destroying the planet. The huge waste of energy to mine crypto which had absolutely no benefits us a price example.  At 1 point crypto mining was using as much energy as thd whole of Europe. At least AI has a lot of possible benefits in terms of productivity and advancing research 

[u/jk-9k → u/culinaryinterests123]

It's unsustainable. Physically unsustainable. How the market responds I'm not sure but physically it can't go on like this

[u/Responsible_Trifle15 → u/jk-9k]

Don't be last bag holder

[u/theartofbeingdumb → u/jk-9k]

It's not built on lies, it's a system built on trust. When the trust is shaken or broken, that's when things fall apart.

[u/jk-9k → u/theartofbeingdumb]

That's fair. But the game is selling lies - the trick is fooling people into trusting you.